Tuesday, June 9, 2015

Word along St. Mark's Place is that Fasta ("Pasta Your Way") has closed at No. 36. The quick-serve restaurant between Second Avenue and Third Avenue hasn't been open since last Wednesday. Someone papered over the windows. Calls to Fasta go unanswered.

Fasta just opened on April 23. The space, however, may not be empty for long. Neighbor Jordy Trachtenberg hears that the owners will convert Fasta into a restaurant specializing in chicken.

The previous tenant, the $1.50 branch of 2 Bros. Pizza, closed in February.

@nygrump most of these small business owners are personally liable for their leases. A lease is a contract. A failed business means bankruptcy, destroying your credit and possible loss of all personal assets.

Their loss is not our burden. Fasta is not an investment bank and will receive no government bail out regardless of what you think you know.

August 15, 2002Ultimate Franchise Systems Inc., the franchise management company for Sobik's Subs and other brands, said Wednesday that it had acquired a 29 percent controlling interest in Uptown Restaurant Group Inc. Uptown of Mesa, Ariz., is the parent of independently owned franchises of New York Burrito, One Potato Two and Fasta Pasta. It has about 70 restaurants in 20 states, including one New York Burrito in Orlando. The value and terms of the all-stock swap deal were not disclosed. Ultimate is based at Heathrow, north of Orlando.

I'm sure that they have bankruptcy "protection", so their suppliers are on the hook.

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